An ionic/nonionic polyurethane dispersion with high solid content and low viscosity with a complex hydrophilic chain-extending agent was prepared using isophorone diisocyanate as a hard segment and propylene oxide glycol as a soft segment. The complex hydrophilic chain-extending agent consisted of DPSA and BDSA. The effects of the molar ratio of DPSA/BDSA on the properties of the resultant polyurethane dispersions were studied. The morphologies and properties of the ionic/nonionic PU dispersions were examined using particle-size, TEM, and viscosity analyses. It was found that the ionic/nonionic dispersions possessed wide particle-size distributions due to the addition of the complex hydrophilic chain-extending agent. The ionic/nonionic PU dispersions possessed higher solid content than conventional WPU dispersions because the number and volume percentage of the large particles and small particles of the ionic/nonionic dispersions met the requirements for high solid content. It was observed that the solid content of the ionic/nonionic dispersion increased and then decreased with an increasing molar ratio of DPSA/BDSA. When the ratio ranged from 4:10 to 5:10, the solid content of the ionic/nonionic PU dispersion reached up to 55%. It was also noticed that the apparent viscosity of the ionic/nonionic polyurethane dispersion decreased with an increasing molar ratio of DPSA/BDSA. The complex hydrophilic chain-extending agent consisting of DPSA and BDSA enhanced the solid content and decreased the viscosity of the ionic/nonionic dispersions, which are very important for improving the properties and expanding the applications of PU dispersions. In addition, the ionic/nonionic polyurethane dispersion had good electrolyte-resistance properties, stability at both high and low temperatures, and storage stability.